On October. 22, LG Display reported unaudited earnings results based on consolidated K-IFRS (International Financial Reporting Standards) for the three-month period ending September 30, 2015.
- Revenue in the third quarter of 2015 increased by 7% to KRW 7,158 billion from KRW 6,708 billion in the second quarter of 2015 and increased by 9% from KRW 6,547 billion in the third quarter of 2014.
- Operating profit in the third quarter of 2015 recorded KRW 333 billion, a quarter-on-quarterdecrease of 32% from an operating profit of KRW 488 billion, and a year-on-year decrease of30% from the operating profit of KRW 474 billion in the third quarter of 2014.
- EBITDA in the third quarter of 2015 was KRW 1,178 billion, compared with EBITDA of KRW 1,347 billion in the second quarter of 2015 and with EBITDA of KRW 1,295 billion in the third quarter of 2014.
- Net income in the third quarter of 2015 amounted to KRW 198 billion, a quarter-on-quarter decrease of 45% from KRW 363 billion in the second quarter of 2015, and a year-on-year decrease of 44% from KRW 354 billion in the third quarter of 2014.
LG Display announced its fourteenth straight quarterly operating profit at KRW 333 billion and quarterly revenue of KRW 7,158 billion due to its continuous differentiated strategy efforts in response to reduced demand among TV set manufacturers and price declines for displays.
Despite weaker market demand due to uncertainty in the global economy, LG Display was able to report its fourteenth straight quarterly operating profit because of a continued market trend towards large-sized TVs and increased demand for differentiated products such as Ultra HD and IPS displays.
TFT-LCD panels for TVs accounted for 39% of revenue in the third quarter of 2015, mobile device panels for 27%, tablet PCs and notebook PCs 18%, and monitors 16%.
With 83% in the liability-to-equity ratio, 143% in the current ratio, and 14% in the net debt-to-equity ratio as of September 30, 2015, the financial structure of the company remains stable.
